Robinhood has become a popular stock trading app and is responsible for giving a new generation of investors access to the stock market.

Its commission-free business model, which lets you buy and sell stocks for free, is what prompted many other brokerages to follow suit and get rid of trading fees.

Below, Select reviews Robinhood’s current offerings to give you details on investment options, features, and fees so you can decide if it’s right for your needs.

Robinhood users have access to stocks, ETFs, options, and crypto trading. There are over 5,000 stocks and ETFs and seven types of cryptocurrencies on the platform.

You can access IPO shares through Robinhood, as well as commission-free fractional shares. Before a stock is available to the general public, Robinhood allows you to apply for the ability to purchase stocks from investment banks at the IPO price. When buying fractional shares, you can get an expensive, high-profile stock without having to buy a whole stock.

Robinhood does not currently offer bond or mutual fund investing, but many of the ETFs it offers may offer similar functionality to a mutual fund or bond fund. Alternatively, you can set up a separate brokerage account with someone like Fidelity, Charles Schwab, or robo-advisor Betterment, to further diversify your portfolio.

You’ll also have to look elsewhere for IRAs, as Robinhood does not currently offer tax-advantaged retirement accounts. (A good substitute of choice is Webull, which in addition to offering traditional IRAs, Roths, and Rollovers, also offers commission-free trading in stocks, options, ETFs, and crypto, with no minimum required. Users have also access to IPO and fractional shares. )

Robinhood stands out primarily for offering investors the freedom to completely build their own portfolio. For this reason, the platform is a good choice for active traders who have have done their research and know a bit about how the market works. Novice traders can get in on the action, but just make sure you’re comfortable with the risks of investing in individual stocks.

As an investor in a Robinhood brokerage account, you will also have access to the Robinhood Cash Management account. Although it is not a bank account, it offers similar functionality to a checking or savings account, allowing users to earn interest on their money and providing FDIC insurance to protect their funds.

Those looking to take their investment to the next level can upgrade to Robinhood Gold for a monthly fee of $5. This subscription service provides more advanced investment tools such as research reports and market data.

There are a variety of accessible learning tools and educational resources that Robinhood offers, such as a “Getting Started” blog, an online content library, and a daily Robinhood Snacks newsletter.

Not all brokers offer bonuses to new investors, but Robinhood will add a free share to your brokerage account when you link your bank account and meet the terms of your promotion. You can keep the stock or sell it after two trading days.

Robinhood’s app is available for free download in the App Store (for iOS), where it has 4.2/5 stars (with nearly 4 million reviews), and on Google Play (for Android), where it has 3.8/5 stars at the time this article was written.

Robinhood does not have a minimum to open an account nor do users need to meet a minimum to start investing.

Robinhood does not charge commission fees for trading stocks, options, or cryptos.

Robinhood is a go-to platform for many active traders, as it charges no commission fees on trades and offers a variety of investment options.

More self-directed traders should instead consider investing in mutual funds through the brokers we mentioned above, or an automated investing solution. SoFi Invest®, for example, offers a robo-advisor option with no account management fees and no minimum required. It offers a wide range of low-cost ETFs and will automatically rebalance your portfolio on a quarterly basis. Read our full SoFi Invest review.

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